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From Precy Dumlao, Opalesque Asia:
London-based think tank Z/Yen Group released its eight Global Financial Centers Index (GFCI 8) which showed Hong Kong has joined London and New York as one of the "Big Three" Global Financial Centers.
Hong Kong joins three other Asian cities in the GFC Index which ranks 75 global financial centers. Tokyo remained steady at No. 5 and London retained its number one spot followed by New York.
A surprise entry into the top ten is Shanghai which is now ranked No. 6, up five notches from its 11th place ranking from the previous survey.
The city was cited for its improvement on "human" and "business environment."
He Ying, vice president of Shanghai Financial University commented on the report, "The two indicators are both the most important factors for the development of the global financial centers. The improvement in 'human' is the result of the adjustment of the personnel structure during promoting the development Shanghai as a financial center."
The GFCI 8 survey showed that Hong Kong has steadily closed the gap with London and New York over three years - and now stands just 10 points behind New York compared with 76 in March 2007.
Professor Michael Mainelli, Executive Chairman of the Z/Yen Group, commented, "London and New York have long been considered the two to...................... To view our full article Click here
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